There are some really confusing financial messages out there at the moment. As inflation increases and pay is frozen, the IMF says that on average a family will be £1,500 worse off this year.
That’s a whopping £35bn loss to the economy. So what do we do? Shall we follow America’s answer by borrowing even more? How embarrassing that the world’s most powerful country is so seriously in debt.
But with all this debt around, BP announces £3bn profits, while HSBC announces £7bn profit – and 16,000 redundancies. Something has to give.
Will we be turning our backs on the banks soon? Maybe we all need to start living within our means.